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MetaConnect Event Sparks Discussion: The Influence of Meta’s AI and Blockchain Initiatives on Altcoin Markets
Meta, previously known as Facebook, is preparing to host MetaConnect, a two-day event set for September 27-28. This event will primarily concentrate on artificial intelligence (AI) as well as virtual, mixed, and augmented realities, generating considerable excitement within the tech community.
Given Meta’s track record of successful partnerships in the blockchain sector, there is increased interest regarding potential announcements. Here, we examine several altcoins associated with Meta and their relevance in the changing landscape.
Oasis Network (ROSE): Oasis Labs has partnered with Meta to assess AI fairness through Secure Multi-Party Computation (SMPC). The main goal of this initiative is to foster unbiased AI and enhance user privacy, reflecting Meta’s dedication to ethical technology.
Flow (FLOW), Polygon (MATIC), Solana (SOL): Meta gained attention when Instagram announced its support for NFTs built on Ethereum, Polygon, Solana, and Flow blockchains. This development significantly broadens the NFT ecosystem under the Meta brand.
Trust Wallet (TWT): With Meta’s announcement of support for this third-party wallet, it marks a strategic move towards integrating with the wider crypto community. The inclusion of Trust Wallet may have enduring effects on the Meta ecosystem.
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Arweave (AR): Meta utilizes Arweave for the storage of creators’ digital collections on Instagram. This collaboration emphasizes the significance of decentralized and permanent data storage solutions in Meta’s framework.
Ceek VR (CEEK): The partnership between Ceek and Meta opens up fascinating possibilities in virtual reality and metaverse development. It showcases Meta’s ambition to broaden its technological portfolio.
Earlier this year, Meta ceased NFT support on Instagram and Facebook due to legal issues. Nevertheless, the company has suggested a sustained commitment to Web3 and NFTs, indicating that blockchain technology remains a focus.
Other significant entities like Microsoft and Google are enhancing their AI and blockchain strategies. Microsoft’s collaborations with Aptos and LeverFi, along with Google Cloud’s partnership with LayerZero, highlight the industry’s increasing interest in these technologies.
In this context, it appears improbable that Meta will completely withdraw from its blockchain initiatives. As MetaConnect draws near, the crypto community is poised with anticipation, keenly awaiting the next steps from this technology leader. The repercussions of Meta’s actions on the related altcoins and the broader blockchain ecosystem represent a narrative that continues to unfold, promising intriguing developments ahead.
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